Uploaded August 2026 | Updated September 2026, 3 weeks ago
The political fight between the U.S. and Canada is now impacting your money, as the U.S. slaps 50% tariffs on a long list of Canadian goods.
"What it actually means for Americans is a new 50% tax," said David Eby, British Columbia Premier. "It is a bizarre policy for Americans. It's going to hurt them."
On the list of items set to get more expensive: Alcohol, dairy, clothing & home goods, and lumber and wood products.
"Some of the products that come from Canada like lumber, for example, very, very important in the us building trades, energy, these are things that Americans are already feeling a pinch on," said Rana Foroohar, associate editor at the Financial Times.
Some of the more niche products on the list include candles, essential oils, honey and Christmas ornaments.
Analysts say the targeted products will face increased price pressure across the board. But the extent of price increases will vary for each item, and for now should be modest.
On Tuesday, Canada formally announced retaliatory tariffs, matching U.S. tariffs dollar for dollar. They are set to take effect in September.
"Canada's counter tariffs are designed primarily to provide protection for Canadian industry impacted by U.S. tariffs," said François-Philippe Champagne, Canada's Minister of Finance and National Revenue. "It's all about fairness. It's all about level playing field."
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The political fight between the U.S. and Canada is now impacting your money, as the U.S. slaps 50% tariffs on a long list of Canadian goods.
"What it actually means for Americans is a new 50% tax," said David Eby, British Columbia Premier. "It is a bizarre policy for Americans. It's going to hurt them."
On the list of items set to get more expensive: Alcohol, dairy, clothing & home goods, and lumber and wood products.
"Some of the products that come from Canada like lumber, for example, very, very important in the us building trades, energy, these are things that Americans are already feeling a pinch on," said Rana Foroohar, associate editor at the Financial Times.
Some of the more niche products on the list include candles, essential oils, honey and Christmas ornaments.
Analysts say the targeted products will face increased price pressure across the board. But the extent of price increases will vary for each item, and for now should be modest.
On Tuesday, Canada formally announced retaliatory tariffs, matching U.S. tariffs dollar for dollar. They are set to take effect in September.
"Canada's counter tariffs are designed primarily to provide protection for Canadian industry impacted by U.S. tariffs," said François-Philippe Champagne, Canada's Minister of Finance and National Revenue. "It's all about fairness. It's all about level playing field."
-------------------------------------
Follow Scripps News on other platforms—
Join our newsletter at bit.ly/2q1tepr
Follow us on Facebook: facebook.com/scrippsnews
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